Nigeria and the United Arab Emirates have signed a Comprehensive Economic Partnership Agreement (CEPA) that will significantly enhance trade and investment between the two countries by eliminating tariffs on thousands of Nigerian exports to the UAE.
The deal was signed on Tuesday in Abu Dhabi, following negotiations led by the Federal Ministry of Industry, Trade and Investment, with Dr Jumoke Oduwole serving as Nigeria’s chief negotiator, according to a statement from the State House.
Under the agreement, key Nigerian products such as fish, seafood, cereals, oilseeds, cotton, pharmaceuticals, and chemicals will gain immediate duty-free access to the UAE market. Over the next three to five years, tariffs on other goods, including machinery, vehicles, electrical equipment, clothing, and furniture, will also be phased out.
CEPA also provides Nigerian businesses with the opportunity to establish branches, subsidiaries, and corporate entities in the UAE. Nigerian business visitors will be allowed to stay for up to 90 days per year to pursue trade and investment activities, while intra-company transferees, including managers, executives, and specialists, can relocate under renewable three-year permits.
The agreement is expected to address long-standing obstacles to foreign direct investment by offering clearer regulations and stronger protections for UAE investors in Nigeria’s key sectors, paving the way for deeper economic collaboration between the two nations.
